Approved New Bond Application (Agent User)

Overview of Approving a New Bond Application

If the bond application is auto-approved or manually approved after a referral, a quote will be produced. Approved and quoted new bond applications will also be listed in the Pending Quotes search queue. The actions available for approved new bond applications are detailed below.

If it is determined by the applicant, agent, or other users that the bond application will not be purchased, the quote can be declined.
This action is not reversible. In the case that the quote is later desired to be purchased, a new bond application would need to be entered.
Within the system quotes are valid for a specific number of days, depending on a system setting. This setting can also be overridden on a bond configuration. After a quote expires, the DeclineQuotes background job will automatically decline these quotes once the job runs, either by the job scheduler or if done manually from the application.

Once approved, the bond can be purchased. When purchasing the quote, the user will be prompted to specify the billing type for the new bond purchase, and the billing type to be the default for the next renewal purchase. The available billing types are determined from the settings for the bond configuration.
An electronic signature can be required for the bond purchase. This is optional and is configured on the bond configuration. If this is enabled, the purchase cannot be made without the user selecting I Agree for the electronic signature.

Select Submit to then purchase the quote or Purchase Quote From new Bond Application button at the top of the bond page.
Select Cancel to return to the quote without purchasing.
Once purchased, additional actions can be performed on the active bond.

Any quotes can be requoted, to make any additional changes to the bond application before the purchase. This action will run the bond application through the decision engine again, and therefore possibly auto-approve, refer, or auto-reject the bond application. Once the requote action is taken, the user will be notified of the result.